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WHY YOU SHOULD ADOPT A VENDOR MANAGED INVENTORY FOR YOUR FASTENERS

Mar 09, 2018

If you run a project that you intend to use with a large number of fasteners such as aluminum hexagon head cap screws and nylon socket cap screws regularly, it usually takes you to come up with a planned system to manage their use. Otherwise, you will eventually have problems including high cost because of the fastener misuse.


You may also notice some problems with the supply of fasteners, such as when you order the quantity much less than you should. Building an inventory system is usually one of the toughest parts of the project. However, there are many ways to resolve this problem, one of which is through the use of vendor managed inventory.


In this system, the problem of organizing and running inventory is left to the supplier. The country's nearly 85% use of fasteners can be attributed to inventory overhead costs, which means that by controlling and optimizing it, you can significantly reduce the cost of any project. In a vendor-managed inventory system, you can save a lot of money while reducing the risk of other problems, such as shortages.


Some of the advantages of the system include:


Reduce errors The inventory of fasteners often involves a large number of documents. This is something that many suppliers invest heavily in rationalizing them. Therefore, when you use a vendor-managed inventory system, you are unlikely to have problems with data entry errors and sorting errors.


Most vendors manage inventory using automated systems to improve speed and reduce such errors.


Time to improve Problems with space constraints mean that for large projects, the right time to buy inputs such as fasteners is critical. With vendor-managed inventory systems, purchase orders are usually generated automatically. This is usually based on predetermined variables, such as the amount of time or the number of fasteners remaining. This way, you can be sure that the supply of fasteners will always be there without forcing you to spend a lot of money on them and have problems storing.


This is the ultimate way to keep the production line running.


Reduce the inventory at hand Having too many fasteners in storage seems to be a good idea, but in many cases it is discouraged. When you have too many people lying around, you will need more space to store them, which will lead to increased costs. For a limited time project, ending too much redundant fasteners can also represent a loss because you will have to find a way to get rid of them if you don't need them.


Using vendor-Managed inventory ensures that your inventory is as small as possible because the system is responsible for planning and purchasing. The fact is that you get all these factors and more facts, plus you don't need to worry about the technical details to make the vendor manage some of the best inventory systems you can subscribe to.


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